Voters in the United Kingdom punished the coalition government’s two political parties at local elections across the country on Thursday in what will be seen by many as a rejection of the government’s austerity.
While the French presidential elections are drawing the attention of most in Europe, local elections in the UK, though unlikely to change the shape of Britain’s coalition government, could put pressure on its economic policy.
Rupert Murdoch is under pressure over his Sun tabloid after the arrests of several senior staff in a corruption probe, but whistleblowers inside his media empire may pose more of a threat than the public outrage that towards his business empire that he was forced to give up his closed its sister paper.
The United Kingdom will retain its triple-A credit rating this year thanks to the Bank of England’s policy of quantitative easing and demand for UK gilts, City-based analysts told CNBC.
The United Kingdom is likely already back in recession and may see unemployment approach three million before the end of the year, economic think tank the Ernst & Young Item Club forecast on Monday.
Occupy London Stock Exchange demonstrators announced on Friday they had “repossessed” a building belonging to Swiss investment bank UBS in Hackney East London.
Former British Prime Minister Gordon Brown has called on the United States to show leadership on the global economic recovery at the next G20 Summit to be held in Nice, France next month.
The British Prime Minister David Cameron defended the coalition government’s austerity plans on Wednesday telling delegates at the Conservative party’s annual conference in Manchester: “Our plan is right, and our plan will work.”
When chancellor of the exchequer, George Osborne, got up to speak at the Conservative party conference on Monday, he knew he had to tread a fine line between optimism that the British economy could recover and wasn’t going to fall into a "double-dip" recession, versus facing down calls from the Liberal Democrats to ease public spending cuts and those on the right of his own political party calling for an end to the 50p tax rate at the very least.
The UK’s finance minister, Chancellor of the Exchequer George Osborne vowed to continue the coalition government’s austerity program on Monday telling delegates at his Conservative party’s annual conference in Manchester, UK, that Britain would “ride out the storm.”
The UK needs a new economic plan for the 21st century that rewards the real wealth creators and not just "predators who are just interested in the fast buck", the Labour party leader - the UK’s main opposition party - Ed Miliband said on Tuesday.
The UK’s opposition finance spokesman Ed Balls called on the government to provide a credible policy to encourage economic growth telling delegates at the Labour party’s annual conference the coalition government’s austerity plan “just wasn’t working”.
The Bank of England (BoE) held interest rates on Thursday at their current historic low of 0.5 percent after weaker than expected gross domestic product (GDP) figures last week effectively killed off any hope of a rate rise this year.
he News of the World phone hacking scandal heaped further pressure on the British Prime Minister, David Cameron, on Monday as more questions were raised about his appointment of the paper's former editor Andy Coulson as his director of communications.
The British government will confirm proposals to raise the retirement age of up to six million public sector workers by six years on Friday from 60 to 66.
The UK’s Prime Minister, David Cameron, is coming under increasing pressure to reshuffle his cabinet just days after returning to work from a two-week break.
The International Monetary Fund (IMF) has cut its growth forecast for the UK economy to 1.5 percent for 2011, but has said it continues to support the coalition government’s spending cuts.
The UK government will send a warning to unions Monday that it is prepared to change the law should it deem it necessary to avoid the threat of coordinated strikes.
The Bank of England (BoE) was warned by the British Chambers of Commerce (BCC) on Monday that raising interest rates before November risked damaging the recovery of the UK economy.
The UK’s business secretary Vince Cable has warned Britain’s banks they could face new taxes if they fail to meet lending targets for small businesses under the government Project Merlin agreement.